"Today, all micro satellites launch as Rideshare payloads and cannot choose either the time of launch nor the destination. Worse, Rideshare payloads are often forced to wait 2-3 years for a bus ride to space and have a very limited choice of destinations," the company says.

Vector will use small rockets measuring just 40 feet from tail to tip, to bring mini satellites anywhere into orbit. The rockets will be capable of carrying up to 55 pounds to a 250-mile orbit, according to Popular Science, which earlier reported on the company's launch, or 100 pounds at 125 miles from Earth's surface.

Vector's launch comes at a time when cheaper space travel is closer to becoming a reality. Companies like SpaceX, as well as the Jeff Bezos-owned Blue Origin, are currently working on reusable rockets that would dramatically reduce the cost of space flights. However, their efforts are focused on bigger commercial launches and government work, as well as consumer space travel.

Vector, meanwhile, wants to cost-effectively get mini satellites into space. "Vector will launch 45 kg to Low Earth Orbit. We can place your satellites into any inclinations from 28 degrees to Sun Synchronous Orbit," the company says.

Related

Currently, small satellites often need to jump on a rocket that's already carrying major payload into space, meaning they'll need to go wherever the heavy rocket is headed and spend tens of millions of dollars to get the job done. According to Popular Science, Vector is trying to get the cost down to between $2 million and $3 million per launch.

"Vector's goal is to develop a platform for Space App Developers to do what they do best: innovate on their solution and not worry about procuring launches and satellites," the company writes on its website.

Vector is aiming to have its first launch in 2018, and will begin accepting reservations in the second quarter.

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